Are You Ready Quiz | Briana McDonagh

Deposit and savings

How much deposit do you currently have available?

Include everything that could go toward your deposit — personal savings, KiwiSaver (if you have contributed for 3+ years), a family gift, or a combination. KiwiSaver alone can make up your entire deposit.

Deposit and savings

Do you have money set aside to cover buying costs on top of your deposit?

On top of your deposit, you will need to budget for costs like legal fees, a LIM report, and a building inspection — typically around $3,000 or more. A family member can also help cover these costs if needed.

KiwiSaver

Have you been contributing to KiwiSaver for at least three years?

If you have been a KiwiSaver member for three or more years, you may be able to withdraw your savings (minus $1,000) to use toward your first home deposit.

Income and employment

How would you describe your employment situation?

Lenders look at both the stability and type of your income when assessing how much you can borrow.

Income and employment

Do you receive any additional income on top of your main income?

This is optional — select any that apply. Lenders can factor additional income into your borrowing capacity.

☑ Select all that apply

Credit history

Have you ever had a default or a debt sent to a debt collector?

This includes unpaid bills or overdue accounts that were passed on to a collection agency. These show up on your credit report and lenders will see them.

Credit history

In the last three months, have you had any of the following?

Lenders review the last three months of bank statements closely. An issue here and there is not always a problem — but it is worth knowing about.

☑ Select all that apply

Credit history

Have you ever been through a bankruptcy, no asset procedure, or debt repayment order?

These are significant credit events that lenders look at carefully. They do not automatically disqualify you from getting a mortgage, but they do need to be reviewed.

Existing debt

Do you have any existing debt?

This includes personal loans, car finance, credit cards, student loans, or Buy Now Pay Later services like Afterpay, Laybuy, or Zip. Lenders factor all of this into how much they will lend you.

Knowledge and preparation

Do you have a rough idea of how much you could borrow?

Understanding your borrowing capacity helps you know what to look for and sets realistic expectations before you start going to open homes.

Timeline

How soon are you hoping to buy?

There is no wrong answer here — knowing your timeline helps us understand where to focus your energy right now.

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Your results are ready

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Your buying readiness overview

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⚠️ This quiz is for general guidance only and does not constitute financial advice. Everyone's situation is different — for personalised advice, get in touch with Briana.

Are you ready to buy?